Motley Fool Wealth Management LLC Buys 117,674 Shares of Live Oak Bancshares, Inc. (NASDAQ:LOB)

Key Points

• Motley Fool Wealth Management LLC increased its stake in Live Oak Bancshares by 80.5%, acquiring 117,674 shares in the first quarter, bringing its total holdings to 263,859 shares worth approximately $7 million.
• Analysts from Keefe, Bruyette & Woods have reiterated a "market perform" rating for Live Oak Bancshares and set a new price target of $37.00, up from $36.00.
• Live Oak Bancshares declared a quarterly dividend of $0.03, which results in an annualized dividend of $0.12 and a yield of 0.4%.

Motley Fool Wealth Management LLC grew its stake in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 80.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,859 shares of the bank's stock after purchasing an additional 117,674 shares during the quarter. Motley Fool Wealth Management LLC owned approximately 0.58% of Live Oak Bancshares worth $7,034,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Live Oak Bancshares by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,657,737 shares of the bank's stock valued at $70,855,000 after purchasing an additional 26,481 shares in the last quarter. Capital International Investors lifted its holdings in Live Oak Bancshares by 75.8% during the fourth quarter. Capital International Investors now owns 2,041,706 shares of the bank's stock worth $80,749,000 after acquiring an additional 880,530 shares during the period. Southernsun Asset Management LLC lifted its holdings in Live Oak Bancshares by 10.3% during the fourth quarter. Southernsun Asset Management LLC now owns 796,720 shares of the bank's stock worth $31,510,000 after acquiring an additional 74,193 shares during the period. Northern Trust Corp lifted its holdings in Live Oak Bancshares by 3.2% during the fourth quarter. Northern Trust Corp now owns 314,325 shares of the bank's stock worth $12,432,000 after acquiring an additional 9,661 shares during the period. Finally, Nuveen LLC bought a new stake in Live Oak Bancshares during the first quarter worth $8,116,000. Institutional investors own 63.95% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $37.00 price target (up from $36.00) on shares of Live Oak Bancshares in a report on Friday, July 25th.

Live Oak Bancshares Price Performance

NASDAQ:LOB opened at $31.09 on Monday. The business has a fifty day simple moving average of $30.52 and a two-hundred day simple moving average of $29.44. Live Oak Bancshares, Inc. has a 1 year low of $22.68 and a 1 year high of $50.57. The company has a market capitalization of $1.42 billion, a P/E ratio of 21.44 and a beta of 1.82.

Live Oak Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were given a $0.03 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Live Oak Bancshares's payout ratio is 9.84%.

Live Oak Bancshares Profile

Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.

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